Weekly Debt report ending 30 June 2017
· The bearish sentiment that prevailed during the beginning of the week ending 30 June was seen reversing to a positive towards the latter part of the week on the back of foreign and local buying interest as yields dipped across the yield curve.
· The Rupee on its spot contracts were seen depreciating during the week to close the week at Rs. 153.55 / 65 against its previous weeks closing of Rs. 153.23/ 30 on the back of continued importer demand.
· The fiscal risk posed by Sri Lankan government Treasury guarantees to stateowned enterprises (SOEs), especially those without stable revenue streams, has increased, the World Bank has warned in its latest development update.
· Sri Lanka’s inflation as measured by the Colombo Consumer Price Index (CCPI) rose 6.1 percent in June from a year ago, edging up from the previous month’s 6.0 percent increase.
· Sri Lankan companies that violate transfer pricing rules can be fined up to two percent of the total value of transactions between related parties in case of nondisclosure of any required information under the new tax law.
· Sri Lanka’s main business lobby, The Ceylon Chamber of Commerce, Thursday appointed Rajendra Theagarajah as its new chairman during its 178th annual general meeting.
· Sri Lanka’s capital markets regulator said it will enforce rules for listed companies to maintain a continuous public float of 20% from 1 July 2017, after giving a grace period of six months as many firms were non-compliant and several delisted.